The 120-unit apartment complex sold for $5
million, which equals roughly $42,000 per unit.

“Columbia remains a highly
sought-after market from many out of state investment groups,” Drew Babcock, vice president of
investments in Marcus & Millichap’s Columbia office, said in a statement.
“Mallard Pointe Apartments
is an example of the many 1970’s vintage properties that have traded over the
last few years.”

Located on
11 acres of land just 6 miles from downtown Columbia, Mallard Pointe
Apartments is a mix of one-, two- and three-bedroom units. The complex is close
to Garners Ferry Road and the new $300 million Jushi manufacturing plant.

Babcock
sourced the buyer on behalf of the seller. The buyer is an investment group in
New Jersey, while the seller is a local limited liability company that purchased the complex in the early 1990s.